Rent seeking is a term used by economists to describe the behavior where individuals or groups seek to increase their wealth not by contributing to the economy, but by seizing a bigger portion of existing wealth. This occurs without any productive effort that adds value to society, essentially allowing them to benefit from the economic activities that would have occurred regardless of their involvement.

In his book, "The Price of Inequality," Joseph E. Stiglitz highlights the implications of rent seeking in today's society, emphasizing that such behavior can lead to greater income disparities and social division. By focusing more on appropriating wealth than creating it, rent seeking contributes to economic inefficiency and perpetuates inequality, undermining the overall progress and stability of society.